Essentially buys South African rugby contracts
Article Date: Nov 10 2008Sports marketing, media and management group Essentially has expanded its business in South Africa through the acquisition of the management contracts of a group of rugby union players.
The deal has brought 40 more players under the group’s control, including internationals such as Victor Matfield, Juanne Smith, Francois Steyn and Johann Muller. The deal was worth ZAR4 million (£258,000), which was paid in full on completion in cash and shares.
Under the terms of the agreement, the managers of the contracts, sports lawyers Stephan Weyers and Gerrie Swart have joined Essentially. They will now head the London-based group’s rugby and cricket athlete management business in South Africa.
Essentially chief executive Bart Campbell said: “The acquisition is timely in view of the British Lions Tour in 2009 for which we are the exclusive commercial agency and further underpins Essentially’s strategy of providing a broad range of services to our clients in our core sports.”
Campbell also welcomes Weyers and Swart to the group as their knowledge of the industry in South Africa will be needed to take the group forward.
Weyers added that the deal provides his clients with a global reach. “This transaction catapults our business to the next level and we look forward to working with Bart and his team to execute on the significant number of opportunities in South African sport.”
